Massive Token Purchases Cause Prices to Rocket

Crypto wallets connected to the Trump family-supported World Liberty Financial project purchased millions of dollars’ worth of various major tokens early Thursday, causing their prices to surge. The project, which is a unified platform for borrowing and lending cryptocurrencies, creating liquidity pools, and transacting with stablecoins, serves as a governance token for the platform.

President-elect Donald Trump is a Key Figure in the Project

President-elect Donald Trump is the “chief crypto advocate” of the project, while his sons, Eric and Donald Trump Jr., are “web3 ambassadors,” and Barron holds the title of “DeFi visionary.”

Data Shows Massive Token Purchases

Data shows that the project purchased $10 million in ether (ETH), and $1 million each in aave (AAVE) and Chainlink’s LINK tokens early Thursday. ETH prices surged 7% in Asian morning hours after the purchases, while AAVE and LINK prices surged 30% on the bullish sentiment.

Additional Large-Scale Purchases

The wallet has also spent $30 million to buy 8,105 ETH at an average price of $3,700 in the past 12 days, according to Spot on Chain.

Speculation About Future Plans

Well-followed crypto trader @TheFlowHorse speculated that the tokens were likely part of bigger plans in the coming months: “Trump’s account is buying the crypto pairs that are set to benefit heavily from his plans.”

Partnership with Chainlink

World Liberty Financial uses data provider Chainlink’s services for better integrating with the wider crypto ecosystem. Chainlink supports the platform by providing crucial pricing data and cross-chain interoperability infrastructure, according to a November report.

Comment from Chainlink Community Liaison

“With Trump’s World Liberty Financial DeFi platform adopting the Chainlink standard for data and cross-chain connectivity earlier this year, the recent on-chain purchase of $1M in LINK only further strengthens the long-term alignment between the two ecosystems,” said Chainlink community liaison Zach Rynes in a Telegram message to CoinDesk. “As the new administration brings regulatory clarity for crypto in the US, Chainlink and WLFi are well-positioned to scale DeFi to the masses in a way never seen before.”

DAO Proposal for Aave v3 Instance

Last week, the platform’s DAO proposed deploying a World Liberty Financial Aave v3 instance. This instance will be managed through external risk managers, built on the existing Aave v3 infrastructure, and released on Ethereum.

FAQs

• What is World Liberty Financial? World Liberty Financial is a unified platform for borrowing and lending cryptocurrencies, creating liquidity pools, and transacting with stablecoins.
• Who is involved with World Liberty Financial? President-elect Donald Trump is the “chief crypto advocate,” while his sons, Eric and Donald Trump Jr., are “web3 ambassadors,” and Barron holds the title of “DeFi visionary.”
• What are the project’s goals? The project aims to attract first-time users to the platform and share revenue with those who provide liquidity.
• How much did the project purchase in tokens? The project purchased $10 million in ETH, $1 million in AAVE, and $1 million in LINK tokens.

Conclusion

The recent massive token purchases by World Liberty Financial have caused a surge in prices, sparking speculation about the project’s future plans. With its partnership with Chainlink and its adoption of the Chainlink standard for data and cross-chain connectivity, the project is poised to make a significant impact on the DeFi landscape.